Paramount Skydance Set to Remove Around 2,000 United States Roles – News
Skydance Paramount will begin large-scale job cuts during the week starting 27 October, cutting approximately 2,000 US jobs as part of a expense reduction strategy valued at $2bn led by top executive David Ellison.
The workforce reduction are a result of the union of Skydance Media and Paramount Global, which closed during August with a value of $8.4bn.
Additional overseas workforce reductions are expected, with Paramount Skydance aiming to reveal all specifics via its third quarter earnings report set for the 10th of November.
Earlier reports had indicated the company aimed to eliminate from 2,000 to 3,000 jobs by the beginning of next month.
By December 2024, Paramount employed almost 18,600 permanent and temporary staff and 3,500 contract workers.
The organization has not yet commented on the matter.